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Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It continues to this day as the effects of the disaster ripple through local communities and the shipping industry.
As most of us are aware, Vale is the world’s largest producer of iron ore, and runs several deep-draft ports in Brazil as well as Indonesia, Malaysia and Oman, equipped to receive Valemax ships, the biggest mineral vessels in the world, with capacity for 400,000 tonnes of ore. The company charters Capesizes and Very Large Ore Carriers (VLOCs) and its fleet primarily services the Asian energy needs.
This is actually the second dam collapse incident Vale saw in less than four years. Back in 2015 a larger dam, Samarco Mineracao SA, a joint venture between Vale and BHP, collapsed claiming the lives of 19 people and creating a major environmental disaster. So coming just a few years after a similar disaster in the same state, the Brumadinho collapse enraged many in Brazil, particularly when everyone found out that Vale had earlier received warnings about its fragile state.
The crisis at Vale is already rippling worldwide with strong effects on the iron ore markets and the Capesize segment. The price of iron ore last week surpassed $90 a tonne amid concerns that the closure of Vale’s dams could provoke a supply crunch. The company itself said it would sell a maximum of 330m tonnes of the raw material this year. Last year Vale produced 380m tonnes.
Tailings dams are cheap and obviously risky. The upstream sort have been banned in Chile and are very rare in America and Europe. Their widespread use in Brazil is one way the government helps mining firms. Miners such as Vale in particular, are obviously favoured because they often shoulder the responsibilities of governments in remote places, building schools and hospitals, for example. In Minas Gerais (literally, “General Mines”), the state where Brumadinho is located, Vale often dominates local economies as we can all understand.
This disaster weighed heavily on the market for big Capes, with still a lot of uncertainty about shipments/future exports leading to a sharp drop in rates. The miners had largely been absent from the market recently, with just a handful of other player in the region with large iron ore cargoes to move. Rates are expected to still experience a significant pressure moving forward. It is quite a unique situation and it is interesting to see it’s future dynamics in the Capesize sector.
By Christopher Whitty
Director, Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
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Showing 1636 to 1640 news of total 6871 |
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- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
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